Donald Trump has reaffirmed that tariffs on imports from Mexico and Canada will take effect on March 4 unless drug trafficking into the United States is significantly reduced.
The US president also announced an additional 10% tariff on China, maintaining a firm stance on trade and national security. Meanwhile, a 25% tariff on the European Union is set to be implemented on April 2. Trump justified the decision by citing the dangers of illicit drugs, particularly fentanyl, and vowed to take strict measures to curb their flow.
The financial markets reacted swiftly to the news, with Bitcoin witnessing another downturn. The leading cryptocurrency dropped to $85,697, marking a 0.51% decline, according to CoinMarketCap. This marks the fourth consecutive day of losses for Bitcoin, which has been experiencing volatility amid broader economic concerns. Analysts warn that if selling pressure continues, Bitcoin could test the $80,000 support level before stabilizing.
Market analysts attribute Bitcoin's decline to increasing uncertainty surrounding global trade policies. The potential economic impact of Trump's tariffs has fueled risk-off sentiment among investors, contributing to a pullback in cryptocurrency and equity markets. With geopolitical tensions rising, traders are closely monitoring developments as further escalations could intensify volatility in the financial landscape.
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